For as long as Thais can remember, bank branches, public or private, always close in the middle of the year on July 1 to do some bookkeeping. That tradition will end next year.

The central bank announced the abolition of the mid-year holiday in a statement issued Tuesday, citing advances in technology that no longer require financial institutions to halt operations for a day.

The holiday began decades ago because banks had to calculate annual interest and verify the past year’s transactions every June 30.

Back when everything was done by hand, staff worked late into the night, so every bank agreed to give them the next day off, said Bangkok Bank vice president Decha Tulanun.

“Everyone involved in the system had to stay up all night,” Decha said Wednesday. “But now everything is done by 9pm.”